(A) The right of the trustees to construct the improvements and then to operate and maintain them is affirmed.
(B) Subject to obtaining the approval of the State Fiscal Accountability Authority or Department of Administration, as appropriate, expressed by resolution duly adopted, the trustees are authorized to issue not more than twenty million dollars of bonds for the purpose of acquiring, constructing, reconstructing, renovating, or equipping athletic facilities and for the purpose of refunding any previous series of bonds authorized by this section. Bonds issued pursuant to this section are payable from the admission fee, the special student fee, and net athletic revenues.
(C) It is not intended by this article to limit the university in the construction of the improvements to the sums provided in this article, and if the university obtains funds from other sources for the purposes of enlarging and improving the football stadium, then it is empowered to apply the funds to the improvements as now contemplated or to provide further improvements for the football stadium.
HISTORY: 1992 Act No. 514, Sections 3, 4 and 19; 1997 Act No. 103, Section 2.
Structure South Carolina Code of Laws
Chapter 127 - South Carolina State University
Section 59-127-10. Establishment of South Carolina State University.
Section 59-127-15. South Carolina State College changed to South Carolina State University.
Section 59-127-20. Board of trustees; election; terms.
Section 59-127-30. Quorum at board meetings.
Section 59-127-40. Management and control of Claflin College.
Section 59-127-60. General powers of board.
Section 59-127-70. Buildings; courses of study; appliances; staff.
Section 59-127-80. One half of land scrip fund vested in board.
Section 59-127-85. Board authority to enter ground lease agreements.
Section 59-127-310. Definitions.
Section 59-127-350. Requirements of bonds.
Section 59-127-360. Registration of bonds.
Section 59-127-370. Tax exempt status.
Section 59-127-380. Persons who may lawfully invest in bonds.
Section 59-127-390. Execution and delivery of bonds.
Section 59-127-400. Sale of bonds.
Section 59-127-410. Disposition of proceeds of sale of bonds.
Section 59-127-420. Authorization of special fees for repayment of bonds.
Section 59-127-430. Disposition of monies from other sources for repayment of bonds.
Section 59-127-440. Powers of trustees in authorizing issuance of bonds.
Section 59-127-450. Responsibilities of State Treasurer.
Section 59-127-470. Feasibility study.
Section 59-127-480. Citation of article.
Section 59-127-490. Definitions.
Section 59-127-500. Power to issue facilities improvement bonds
Section 59-127-510. Resolution provisions.
Section 59-127-520. Form and content of bonds; negotiability.
Section 59-127-530. Tax exempt status.
Section 59-127-540. Signature and seal.
Section 59-127-550. Terms and conditions of sale.
Section 59-127-560. Filing description of obligations with State Treasurer.
Section 59-127-570. Enforcement rights.
Section 59-127-580. Revenue sources for payment; liability of board members.